Nicosia

Ryanair will probably submit an expression of interest in troubled Cyprus Airways, which is up for sale, Chief Executive Michael O’Leary said on Tuesday.

The Cypriot government in mid-July invited non-binding expressions of interest in its shares or assets in Cyprus Airways, a state-controlled airline which has posted heavy losses for years.

Deputy Prime Minister Evangelos Venizelos has attributed reports of differences between him and Prime Minister Antonis Samaras over foreign policy issues to detractors who would rather see New Democracy cooperate with the far right than PASOK.

Turkish President Abdullah Gül has urged for a solution to be found on the divided island of Cyprus, speaking at a ceremony in Nicosia to mark the 40th anniversary of Turkey’s military intervention on July 20, 1974.

It was not only Prime Minister Recep Tayyip Erdoğan but the entire Turkey condemned Israeli attacks against Palestinians, Turkish President Abdullah Gül has said.

A delegation from the troika of international lenders Tuesday began its fifth assessment of Cyprus's economy and troubled banking system, focusing on the threat of bad loans.

Some 45 percent of all loans at Cypriot banks are classified as non-performing -- 27.1 billion euros from total lending of 60 billion euros, according to Cyprus Central Bank figures.

President Abdullah Gül will make his last official foreign visit to Turkish Cyprus on July 20.

Gül will participate by on the island to mark the 40th anniversary celebrations of the Turkish Peace and Freedom Day.

Turkish Cyprus was the president’s first destination of choice after he was elected in 2007.

By Georgios Georgiou and Nikos Chrysoloras

Less than a year after the conversion of almost half their deposits over 100,000 euros ($136,000) into equity, Bank of Cyprus Pcl shareholders face another potential blow as the lender weighs a stock sale.

Nicosia on Wednesday issued a terse response to a document submitted by Turkey to European Union officials which is said to have described the Republic of Cyprus as a “defunct” state, calling on Ankara to respect the agreements it has made with the European Commission.

Cyprus's Central Bank governor on Wednesday said this year's recession on the bailed-out island could be shallower than the 4.2 percent decline anticipated by its international lenders.

The Bulgarian community in Cyprus has launched a fundraising campaign to help the flood-hit areas in Bulgaria, Friday.

Charity boxes have been placed in all Bulgarian stores in Nicosia, Larnaca, Limassol and Paralimni, as well as in the Consular Section at the Embassy of Bulgaria in Nicosia, and the Bulgarian school.